Earlier this week the National Association of Realtors indicated existing home sales rose 5.1% in February to a seasonally adjusted annual rate of 4.72 million units, from a rate of 4.49 million in January. This bodes well for the national markets and Las Vegas Real Estate. We’ve been saying for months that we think the Las Vegas Real Estate market has bottomed our, or is close to a bottom.
New home sales are beginning to rebound here in Las Vegas and around the rest of the country. Last week, the Commerce Department reported that initial construction of new homes surged 22% in February to a seasonally adjusted annual rate of 583,000, up from a revised 477,000 in January.
It was the first time housing starts increased since June of 2008- we are seeing comparable rebound effect for Las Vegas Real Estate as well.
Las Vegas Real Estate is moving – a report from the Mortgage Bankers Association showed earlier this week that the number of Americans applying for home loans jumped 30%, driven mostly by applications to refinance existing loans. Call us today (877.360.2030) if you are interested in getting a great deal on Las Vegas Real Estate.
